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Buying.com is the first e-commerce protocol that allows consumers to buy direct from manufacturers wholesalers and distributors.Wed, 20 Mar 2019 19:30:27 +0000en-UShourly1https://wordpress.org/?v=4.9.14https://blog.buying.com/wp-content/uploads/2018/08/icon.pngBuying.com Bloghttps://blog.buying.com
3232How to Invest in Blockchain: A Comprehensive Guidehttps://blog.buying.com/how-to-invest-in-blockchain-a-comprehensive-guide/
https://blog.buying.com/how-to-invest-in-blockchain-a-comprehensive-guide/#respondWed, 20 Mar 2019 19:30:27 +0000https://blog.buying.com/?p=346Many people are wondering how we got here, but here we are. The blockchain has become a part of our lives the same way that the internet is our gateway to a world beyond our physical surroundings. From finance, supply chain, food management, and even to mining, everyone is talking about and the possibility of…

]]>Many people are wondering how we got here, but here we are. The blockchain has become a part of our lives the same way that the internet is our gateway to a world beyond our physical surroundings. From finance, supply chain, food management, and even to mining, everyone is talking about and the possibility of implementing the decade-old technology. Some of the conversations during lunch breaks are centered on how to invest in blockchain technology and the startups in the nascent space.

How to invest in the blockchain

The blockchain is an exciting technology, to say the least, but the hype surrounding it surpasses what it can potentially do. There are essentially a number of ways to invest in blockchain – buying cryptocurrencies or investing in companies pursuing the technology and researching about its implementation.

The Bitcoin mania of 2017 is long gone and may never be repeated because according to Mike Novogratz, a Goldman Sachs alumnus, and Bitcoin bull, “prices got ahead of reality.” This was a bubble in the making and it has already burst.

The lesson here is that never invest in a bubble. It’s a disaster in the making.

The next option is to invest in companies leveraging blockchain technology but whose success is not completely tied to the technology. The stocks of these companies won’t go up and down in the same way as digital assets but they may prove to be good investments in the long term.

You can also invest in blockchain startups. Startups have performed very well over the last couple of years. Investing in startups is not reserved for accredited investors but companies can now raise money through online crowdfunding platforms.

According to Crowdfund Capital Advisors, more than 1,000 companies have raised more than $137 million through crowdfunding processes.

You can invest in the equity of the blockchain firms and stay clear off the cryptocurrency course. However, you have to do this carefully.

Investors can invest in crypto exchange-traded funds (ETFs) – new investment vehicles that allow you to invest in crypto without owning digital assets. The U.S. Securities and Exchange Commission (SEC) has previously rejected applications for Bitcoin ETFs but there is hope that they (Bitcoin ETFs) will be approved soon.

The effects of regulation on the crypto landscape

The blockchain space has largely flourished in an unregulated environment but this is also hindering its success. Bitcoin and its cousins are on the brink of revolutionizing the global financial systems but regulators want to step in even though they are unsure about the direction they should take.

According to Brad Smith, the president of Microsoft, regulators will move in if a world-changing technology is created.

“If you create technology that changes the world, the world is going to want to govern you; it’s going to want in some measure to regulate you,” said Smith.

Regulators normally become visible when something goes wrong and there is no doubt that the industry has come under scrutiny as a result of cyber thefts, market manipulation, Ponzi Schemes, and other nefarious acts.

Regulators are flexing their muscles but they may be doing it the wrong because they do not completely understand the industry. Regulators are caught between a hard place because they have to push for investor protection without stifling innovation.

The main benefit of a regulated crypto industry is a certainty. Many investors are cautious about investing in the young industry due to regulatory uncertainty and the changing positions taken by regulators.

Needless to say, regulators are making great efforts in trying to understand the industry before making decisions. The U.S. Commodity Futures Trading Commission (CFTC) released a Request for Information (RIF) in which it asked the public to give its views on Ethereum and its mechanism.

Investing in blockchain: follow the actions of venture capitalists

Venture capitalists (VCs) make their living by investing in promising startups. VCs have a history of being stringent about who they give their money to. Over the last few years, venture capital is slowly flowing into the industry as VCs diversify their portfolios by investing in blockchain and cryptocurrency projects.

Major traditional financial institutions such as Fidelity Investments, Intercontinental Exchange (the parent company of the New York Stock Exchange), etc. are dedicating their resources to the crypto sector.

JP Morgan Chase, one of the largest financial institutions in the United States, launched what appears to be a stable coin although it has been criticized. However, this is a clear indication that many large traditional institutions are seeing the importance of this new asset class.

Last year, the chief investment officer of Yale University’s Endowment Fund made his bet into crypto, possibly sparking a chain reaction that could lead to other university endowments investing in the industry.

This is good news for both retail and institutional investors because these sophisticated investors bring stability to the market and will probably trigger the next bull run. It is also advantageous to follow the startups and cryptocurrencies they invest in.

There is still a long way to go

The industry still has a long way to go as it continues to shape itself through investments made by both retail and institutional investors.

The blockchain industry has been a cash cow especially for those who got in before the bubble and exited at its peak. Those who joined the game a bit later lost a significant portion of their investments as the industry found itself in a prolonged bear.

More research is needed to unlock the full potential of blockchain technology and discover more use cases for the technology. At the same time, hard fork upgrades being implemented by several blockchain protocols can lead to further adoption of their respective digital assets.

Investing in the blockchain is like investing in almost anything – it is a high-risk activity. Investors should do their due diligence before making investments.

]]>https://blog.buying.com/how-to-invest-in-blockchain-a-comprehensive-guide/feed/0E-Commerce on Demand: Crypto-Based Site With 50,000 Products Offers Delivery in Two Hourshttps://blog.buying.com/e-commerce-on-demand-crypto-based-site-with-50000-products-offers-delivery-in-two-hours-2/
https://blog.buying.com/e-commerce-on-demand-crypto-based-site-with-50000-products-offers-delivery-in-two-hours-2/#respondMon, 11 Mar 2019 15:57:53 +0000https://blog.buying.com/?p=337Originally Published on Cointelegraph A decentralized platform offering “e-commerce on demand” is launching, and says it has the ambition of enabling shoppers to have online orders delivered in less than two hours — with food shopping arriving at their door in 30 minutes. Buying.com says its service will initially be available across six zip codes…

A decentralized platform offering “e-commerce on demand” is launching, and says it has the ambition of enabling shoppers to have online orders delivered in less than two hours — with food shopping arriving at their door in 30 minutes.

Buying.com says its service will initially be available across six zip codes in New Jersey, providing customers with a choice of more than 50,000 items. A center in the town of Mahwah is going to monitor the platform’s progress, and the startup has bold ambitions to roll out across the state and nationwide in the months that follow.

Customers can make their orders through the Buying.com website, and the company says that apps for Android and iOS are in the process of being approved by the app stores. Two other apps have also been completely developed for drivers, enabling them to fulfill orders quickly and with precision.

Buying.com says the launch of e-commerce on demand comes nine months ahead of schedule, and it describes the service as the company’s “holy grail.” Over time, it aspires to become a household name, a crypto alternative to the online behemoths offering same-day deliveries.

Benefiting businesses

Buying.com says it wants to enable businesses at all stages of the e-commerce supply chain — retailers, distributors and suppliers among them — to pool their orders together so they can satisfy minimum order quantities and enjoy greater discounts on a product’s price. Not only does this help keep profit margins healthy, but it also enables businesses to offer compelling discounts to shoppers — better insulating them against online giants.

From the consumer’s perspective, Buying.com hopes that its app will enable the public to access items “from a much wider range of suppliers than is currently available in the centralized e-commerce market,” and access better bargains than they can now.

New technology

The company is hoping to “develop the world’s first vertically integrated blockchain platform,” and wants to drive engagement from shoppers by offering a limited number of “high-quality discounts and promotions” on a daily basis. These deals are also going to be targeted toward users based on their interests and previous purchases and will be time-limited to help boost sales from consumers eager to snap up a bargain.

Through its platform, “social sharing” will be incentivized, meaning the number of deals made available on social networks will increase as Buying.com gains exposure.

Buying.com added: “We will ultimately level the playing field for existing e-commerce stores, allowing them to compete with the likes of Amazon, Walmart and other major retailers. The app serves both as a business-to-business and business-to-consumer platform, harnessing the power of the masses to offer direct product pricing on millions of goods.”

Localizing shopping again

Localization is a big emphasis for Buying.com, and the platform says that consumers will be more willing to spend their hard-earned cash with small businesses in their area if they can offer the same pricing and convenience as online behemoths.

To enable hyperlocal deliveries to take place within two hours, the company is doing away with the notion of expensive, centralized warehouses that stymy the flow of products and increase costs. This would be achieved by paying the owners of empty spaces — such as garages and storefronts — to become “distribution nodes,” creating a dependable network where small businesses can store their stock and drop it off to shoppers quickly.

The platform also hopes to tackle some of the other issues that have been blighting the industry, such as the chargebacks that cost retailers billions. Its Prime-Protect technology gives merchants access to an escrow service, in which funds are released when a customer receives their item and is happy with their purchase.

A sale of BUY tokens is currently taking place. As well as being used for making purchases and paying micro-distribution centers and deliverers, these tokens will serve as a reward mechanism for shoppers.

Over time, Buying.com plans to integrate two million products into its platform.

The BUY St-20 Token is now officially minted and in cold storage at Bitgo, the market leader in institutional cryptocurrency security, compliance, and custodial solutions. With insurance of $100 million utilizing Bitgo’s cold storage application, Buying.com is able to provide all token holders a 100% security guarantee.

Buying.com is also finalizing our token selling platform with OpenFinance for trading in January 2020.

E-commerce on Demand is running in Beta mode with over 250 businesses already registered in the first 30 days of Beta launch. We are on schedule to achieve our goal of 3000 orders per month during this Beta test.

The first POS systems are already being distributed to merchants for testing.

Our goal to be a National Brand is becoming a reality, with Buying.com displayed on all small business doors in the Beta area. (Pictures below)

The E-commerce delivery system for order distribution is already completed and being tested by the first 20 Buying.com drivers. (App photos below)

Our consumer app completion is on schedule, with a full New Jersey State Launch of 722 zip codes for July 1, 2019. The Buying.com HR department is in full hiring mode to meet our need for 600 drivers to support full operation in the state of NJ.

The delivery times during Beta has been 17.2 minutes for deliveries of food products, and 1 hour 23 minutes for delivery of e-commerce on-demand products.

The buying.com Rush service is also completed and is now being tested. An incredibly convenient service, Rush allows individuals to have practically anything they want delivered to their doors. Businesses can offer unlimited delivery options without any overhead and ultimately boost their bottom line by increasing sales. The positive impact this has for small business growth is staggering.

We have also made some Team changes to maximize sales and decrease operational expenses now that the company has moved from an ICO stage to full operations.

We will try to keep you updated every 60 days on our progress. I can assure all our token holders that we are working day and night with over 28 programmers to make sure that this schedule of achievement is completed on time.

]]>https://blog.buying.com/buying-com-news-update-march-2019/feed/0New Buying.com Blockchain-Powered E-commerce Store Looks to be Pioneer and Rival Amazon – Bitcoin Exchange Guidehttps://blog.buying.com/new-buying-com-blockchain-powered-e-commerce-store-looks-to-be-pioneer-and-rival-amazon-bitcoin-exchange-guide/
https://blog.buying.com/new-buying-com-blockchain-powered-e-commerce-store-looks-to-be-pioneer-and-rival-amazon-bitcoin-exchange-guide/#respondSun, 10 Mar 2019 16:06:53 +0000https://blog.buying.com/?p=344Originally Published on Coin News Telegraph With the Blockchain technology disrupting almost every industry, Amazon, the global e-commerce behemoth, could be getting a worthy competitor soon. In what every crypto enthusiast will like to hear, reports from reliable sources show that a new, Blockchain-backed e-commerce platform is in the offing. Buying.com, a soon-to-be-launched decentralized…

With the Blockchain technology disrupting almost every industry, Amazon, the global e-commerce behemoth, could be getting a worthy competitor soon. In what every crypto enthusiast will like to hear, reports from reliable sources show that a new, Blockchain-backed e-commerce platform is in the offing.

Buying.com, a soon-to-be-launched decentralized online store, will reportedly stock over 50,000 commodities. What’s even more exciting, buyers will have their shopping delivered in less than two hours!

Pegged On The Concept Of ‘E-commerce On Demand’

Buying.com will not operate like Amazon or any other ordinary online shop. Instead, the idea behind its creation is to operate on a unique “E-commerce on demand” model. What this means is that their style of operation plus the operating structure and the quality of services will be pegged on the clients’ needs.

Additionally, the fact that it will be Blockchain-based automatically means that it will be run by tokens. The project’s token infrastructure, Buying.com token infrastructure, is founded on the Polymath Network.

Operations Will First Start In New Jersey

News about this development first hit the headlines in January. Right now, the team behind this project report that they are nine months ahead of their plans. If everything goes well, Buying.com will go live for the first time in New Jersey and effectively serve customers in the area.

It aims to start by serving six zip codes and provide them with more than 50,000 commodities. For each item ordered via Buying.com, the team explains that it will be shipped straight to the customer in less than two hours. They will, however, deliver foodstuff in less than 30 minutes!

If you are wary about the security of your details upon signing up or perhaps shopping from Buying.com, then you shouldn’t. BitGo, a company that has partnered with this Blockchain-powered online store, will handle all-matters merchant and customer security. Buying.com will ideally store all the tokens on BitGo’s super-secure cold storage wallet platform.

A Beta Version Is Out – Worth Checking Out!

As we speak, a Beta version of Buying.com is already operating. Along with it, they have already rolled out a minimum viable product or just MVP, for both the Android and iOS devices. An app, called the ‘Direct Product App’ will also be out soon – its role will be to channel benefits to those who will be working with Buying.com directly – its suppliers, manufacturers, and customers.

The amazing thing with the platform is the fact that it will be devoid of intermediaries. With the distributed ledger technology, outside interference will be unheard of. Basically, you should expect a decentralized and interactive P2P marketplace that regulates itself – a platform where, because of the absence of middlemen, prices will be significantly low.

At the heart of Buying.com is the need to ensure efficiency and transparency and still slash the overall costs. And it has seemingly guaranteed this using the immutable Blockchain technology. Some other details about its working style include Segueing – for dropshippers; use of Proxeus – data storage DApp and a host of other features.

Will It Outsmart The Giants Of E-Commerce?

Whether it will manage to wrestle Amazon, Costco, Alibaba, and Walmart and emerge the go-to online marketplace in the future remains to be seen. But we all have a reason to remain hopeful, especially because it seems it will be a conveniently accessible app-based e-commerce shop. Some of the giants who’ve already accepted Buying.com include HP, Sony, Nescafe, and Ralph Lauren.

]]>https://blog.buying.com/new-buying-com-blockchain-powered-e-commerce-store-looks-to-be-pioneer-and-rival-amazon-bitcoin-exchange-guide/feed/0Investing in ICOs: How to Spot an ICO Scamhttps://blog.buying.com/investing-in-icos-how-to-spot-an-ico-scam/
https://blog.buying.com/investing-in-icos-how-to-spot-an-ico-scam/#respondMon, 04 Mar 2019 16:24:50 +0000https://blog.buying.com/?p=329Anything that sounds too good to be true usually is too good to be true. If you know how to spot an ICO scam, then you stand a better chance of investing in a good ICO that will not, at the very least, run away with your money before we even talk about making any…

]]>Anything that sounds too good to be true usually is too good to be true. If you know how to spot an ICO scam, then you stand a better chance of investing in a good ICO that will not, at the very least, run away with your money before we even talk about making any returns.

There are thousands of ICOs out there with each one of them promising you almost exactly the same thing as the other – huge returns on your investment. This is what you want to hear because your money is on the line. You want to make it work for you. Investing in an ICO or any other financial instrument is not in black and white, you may lose all your capital or smile all the way to the bank.

As they always say, only invest money that you can afford to lose. This is the golden rule and will always remain a standard. The purpose of this article is not reminding you that but to give you tips on how to spot an ICO scam.

How to Spot an ICO Scam

A report published in August 2018 by research firm Diar revealed that investors have lost nearly $100 million in ICO exit scams. In the six months since the publishing of this research, this figure has risen.

What this means in the simplest of terms is that the crypto landscape is a garden of roses and thorns. The trick is to separate the thorns from roses and this is what we hope to achieve by the end of the article.

Here are the tell-tale signs of an ICO scam.

Dubious, Dysfunctional, or Poorly Made Website

A website is a window to any company. It gives you a preview of what they have to offer and how far they are willing to go to deliver the product or service. Many firms are investing a lot of money in developing fast-loading and fully functional websites.

ICO websites are not exempted.

Many cheap and poorly done websites are the hallmarks of scams. Some of the websites even use pictures obtained from other sources on the internet. Some of them are simply templates with minimal customization.

A decent project should invest in is a state-of-the-art website that ticks all the boxes such as speed, user interface experience, design, etc.

Team Profiles

Every company takes pride in the people behind it. Companies have sections on their websites that are dedicated to key executives and their professional background. This gives immense credibility to the companies and improves their chances of landing prospective clients.

The same goes for ICOs.

A scam project creates fake bios for its team member profiles. Some go to the extent of adding people who are not part of the project.

You should be able to find the members of ICO projects on social media platforms such as Twitter. Checking their LinkedIn profile usually serves as the best starting point.

Undefined or Unclear Objectives

Every crypto project is a solution to a problem. First, it should be able to describe a challenge or problem followed by a clear brief of how the project proposes to solve the problem.

Some new projects are entering a market that is already crowded with other participants. Their only selling point is how effective they are at solving the solution in comparison with their competitors.

A project that does not clearly define its purpose of existence is a red flag.

The goals of the project must be realistic and not sound to too good to be true. Exaggerated claims normally equate to zero-delivery.

The Company Behind the ICO

There is normally a company behind an ICO.

Your duty is to research if the company behind an ICO is a legal entity. You can find this information from the ICO’s website or searching company registration databases. This is for double-checking purposes and verifying that companies are who they say they are.

It is also advisable to invest in an ICO whose parent company is registered in jurisdictions such as Malta or Switzerland where ICO guidelines are favorable. The last thing you need is to see an ICO project you invested in being involved in legal battles.

White Paper

An ICO white paper should be written in a true Satoshi Nakamoto style. Satoshi’s nine-page white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” should serve as a good template for writing a well-thought-out and straight-to-the-point white paper without marketing material.

A white paper should be fairly technical in nature with little to no marketing lingo. A proper white paper should not entirely rely on graphic design but on the validity and merit of the technological points raised.

Distribution of Funds and Token

An ICO project worth its salt should be clear about the total token supply and how they will be distributed. The ICO founders should not allocate a large portion of tokens for themselves. The founders should allocate a few tokens so that the project can be as decentralized as possible.

The ICO project should clarify how it plans to use the funds raised. The capital raised is usually used to fund the development of the promised product. An ICO that does not think in this way could very well be a scam.

Roadmap

A roadmap is a simple way that the ICO project uses to describe future developments and when they will take place. The roadmap should be realistic and not “promise the impossible.”

An ICO project without a roadmap or one that fails to meet its own targets should not be touched.

Conclusion: Regulation is on the Way

ICOs have largely thrived in a legal vacuum, but things are changing. Regulatory agencies around the world are flexing their muscles in a bid to stamp out exit scams and protect investors. The market itself is nascent and regulators are still trying to understand the evolving landscape.

The onus is on investors to do their due diligence before investing in an ICO project. The ICO market is no longer the Wild West it was two or three years ago, but it still has a long way to go before it is completely free from fraudsters.

]]>https://blog.buying.com/investing-in-icos-how-to-spot-an-ico-scam/feed/0Blockchain E-Commerce Platform Allows Shoppers to Purchase Directly From Manufacturershttps://blog.buying.com/blockchain-e-commerce-platform-allows-shoppers-to-purchase-directly-from-manufacturers-2/
https://blog.buying.com/blockchain-e-commerce-platform-allows-shoppers-to-purchase-directly-from-manufacturers-2/#respondMon, 25 Feb 2019 17:40:14 +0000https://blog.buying.com/?p=315A new decentralized e-commerce platform aims to allow online shoppers and e-commerce stores to combine purchasing power and micro-distribution to access bulk pricing and discounts. Buying.com says that they have multiple solutions to the many issues faced by customers, describing themselves as ‘e-commerce reinvented’. According to the company, the four key elements of their project…

]]>A new decentralized e-commerce platform aims to allow online shoppers and e-commerce stores to combine purchasing power and micro-distribution to access bulk pricing and discounts.Buying.com says that they have multiple solutions to the many issues faced by customers, describing themselves as ‘e-commerce reinvented’.

Describing the benefits for users involved with buying.com, the company says manufacturers can enjoy faster distribution and access to consumer markets, as well as increased global reach; online retailers can price their items as low as possible and buy directly from manufacturers and wholesalers, and consumers will also enjoy low prices and access to a greater number of products.

The company says, Buying.com customers can also be assured of their transactions being secure, as the platform combines the best of blockchain to offer a digital ledger that “offers fraud-proof solutions and auto-verifies transactions for a tamper-proof, secure, immutable audit trail.”

The platform will run using built-in tokens called BUY. These tokens operate an incentive scheme for Node operators to help scale up the network’s progress. BUY tokens can be used to complete transactions on the site, and can also be earned by recommending buying.com to others.

The ICO pre-sale has started on Oct. 1 2018, with BUY tokens released for purchase at $0.07. A further pre-sale and two crowd sales will follow (total token sum value = $50,500,000).

By Q4 of 2018 the team plans to have fully launched the BUY tokens and blockchain enhancements on their website, as well as unveiling the Buying.com DApp. The launch of the Mobile Direct Product App enabling consumers to carry out group purchases is scheduled for the Q2 2018. The team also plans to further develop Prime Protocol features by the end of the year.

The website states, the team behind Buying.com boast a vast range of diverse experience. CEO Raghu Bala worked at Yahoo and Wharton MBA, and CSO Joshua Jahani is formerly of Deloitte, Jean Gabriel founder, Marcel Van Eeden from Deloitte, Bill McIntosh as the CMO is from Harvard and formerly at AOL.

Buying.com is associated with brands such as Nescafe, HP, Sony, and Panasonic, with their partnerships with companies such as Dropshipper.com and Snapforce, according to the website. In August 2018, they presented their work to attendees of the BlockShow conference in Las Vegas.

]]>https://blog.buying.com/blockchain-e-commerce-platform-allows-shoppers-to-purchase-directly-from-manufacturers-2/feed/0U.S. Securities and Exchange Commission Releases ICO Guide: Is it a Little Too Late? Part Two of Twohttps://blog.buying.com/u-s-securities-and-exchange-commission-releases-ico-guide-is-it-a-little-too-late-part-two-of-two/
https://blog.buying.com/u-s-securities-and-exchange-commission-releases-ico-guide-is-it-a-little-too-late-part-two-of-two/#respondMon, 18 Feb 2019 20:17:58 +0000https://blog.buying.com/?p=322As we examined in Part 1 of this blog series, The U.S. Securities and Exchange Commission (SEC), an independent regulatory agency whose mandate is to protect investors, maintain an open and fair market and facilitate capital information, tweeted its guide to initial coin offerings (ICOs) on Feb. 10. Let’s now look into the effects of…

]]>As we examined in Part 1 of this blog series, The U.S. Securities and Exchange Commission (SEC), an independent regulatory agency whose mandate is to protect investors, maintain an open and fair market and facilitate capital information, tweeted its guide to initial coin offerings (ICOs) on Feb. 10. Let’s now look into the effects of this on the ICO market.

The ICO industry is being pruned

Analysts and experts in the industry have predicted that the industry will be pruned this year. At the same time, some altcoins will fail along the way while those with real value, commitment, and dedication will survive the purging by the regulatory agency and the bear market.

Here are some of the reasons why some ICOs have failed:

1. Crypto economics

A proper ICO projects consist of two parts: cryptography and economics. The majority of developers mostly focus on the cryptography part and leave behind the most important part – economics. It is now difficult to find a solid project that has a good balance of cryptography and economics.

2. Utility

The utility of a token refers to the function the token serves. Most tokens fail to meet their utility. A token, in some instances, can have several purposes which could help to reach a wider audience.

Some utility tokens have simply copied what already exists and have failed to offer an innovative solution that can potentially attract customers. There are so many token projects out there and investors are looking for the next big thing and not a rehash of what already exists.

Token creators must have three words in mind: role, features, and purpose.

3. Security

Security is an important factor when launching an ICO. A good example is the 2014 DAO hack in which the project unexpectedly raised about $150 million in a short space of time.

It is said that the success of the project was as a result of a good marketing strategy despite the project still had vulnerabilities in its system.

Hackers exploited the vulnerability and made off with $50 million and crumbled down the project that had started on a good note.

The success of an ICO project extends beyond the fundraising campaign.

4. Lack of experience

The major disadvantage of ICOs is that anyone with coding knowledge can issue out a token. However, the success of the project depends on the experience of token issuers.

Some ICOs are launched by programmers and computer geeks who lack knowledge or experience in leading companies. Effectively, project leaders must be able to communicate their ideas to the public in a simple and convincing manner.

At the same time, token issuers are more worried about the amount of money they raise during the token sale instead of focusing on the real utility of the token.

5. Easy entry into the market

There are low barriers to enter the ICO space. This sounds like a good thing but it has negative effects in the long run. Some projects were launched without even a minimum viable product. In the end, these projects fail to deliver what they promised.

Other projects launch without doing thorough market research and along the way, they find the going tough.

Surviving the ICO market and heading into the future

The success or the failure of ICO projects affects both the investors and token issuers. This also reflects badly on the entire market which is already under pressure to paint a better image after suffering from exchange hacks, fraudulent ICOs, a bear market, etc.

Hype has subsided in the market and the only way to build a brighter future for the ICO industry is to have utility tokens that truly have a utility and propose solutions that haven’t been used before.

]]>https://blog.buying.com/u-s-securities-and-exchange-commission-releases-ico-guide-is-it-a-little-too-late-part-two-of-two/feed/0U.S. Securities and Exchange Commission Releases ICO Guide: Is it a Little Too Late? Part One of Twohttps://blog.buying.com/u-s-securities-and-exchange-commission-releases-ico-guide-is-it-a-little-too-late-part-one-of-two/
https://blog.buying.com/u-s-securities-and-exchange-commission-releases-ico-guide-is-it-a-little-too-late-part-one-of-two/#respondMon, 18 Feb 2019 20:17:36 +0000https://blog.buying.com/?p=320The U.S. Securities and Exchange Commission (SEC), an independent regulatory agency whose mandate is to protect investors, maintain an open and fair market and facilitate capital information, tweeted its guide to initial coin offerings (ICOs) on Feb. 10. The announcement was met with mixed reactions as some believe that it came a little too late…

]]>The U.S. Securities and Exchange Commission (SEC), an independent regulatory agency whose mandate is to protect investors, maintain an open and fair market and facilitate capital information, tweeted its guide to initial coin offerings (ICOs) on Feb. 10. The announcement was met with mixed reactions as some believe that it came a little too late – more than a year after the ICO boom reached its peak in 2017.

Why companies consider ICOs?

Long before the advent of the ICO market, venture capital was the only way for startups to raise capital to fund their projects. However, this method is not completely viable because even some promising projects failed to see the light of day because venture capitalists did not believe in their ideas.

At the same time, this kept the business of investing in new startups in the hands of the few, further isolating the poor from having a new piece of the pie of early state investments.

ICOs represent a way of providing every individual with an opportunity to invest in promising ideas and allow new firms to raise capital without going through the scrutiny of venture capital.

Unfortunately, the ICO boom came along with a lot of fraudsters and criminals who attracted the attention of the SEC and other regulatory agencies all over the world.

SEC crashes the ICO party

The SEC partially crashed the ICO party, claiming that it wants to protect investors from scammers and regulate the new market so that it complies with the U.S. federal securities laws.

The agency published five things people need to know about initial coin offerings.

Some ICOs, based on a number of facts, can be considered to be security offerings, and fall under the jurisdiction of the SEC.

ICOs that fall under the jurisdiction of the SEC needs to be registered with the regulatory agency or be exempted from registration.

Tokens, despite being given many names such as utility token or structuring it differently does not prevent them from being securities.

Some ICOs may be fraud.

People need to get clear answers before investing in ICOs

How the SEC is shaping the ICO industry

The SEC has in the past come out against a number of ICOs, exchanges, broker-dealers, funds, and even individuals for touting initial coin offerings and slapped them with fines.

The SEC previously ruled that tokens sold to the public with the expectations of returns are securities. Some ICO projects labeled themselves as utility tokens in order to prove that their tokens served another important purpose instead of just being an investment vehicle. The SEC did not have any of it and took enforcement action against these projects.

The ICO industry is being pruned

Analysts and experts in the industry have predicted that the industry will be pruned this year. At the same time, some altcoins will fail along the way while those with real value, commitment, and dedication will survive the purging by the regulatory agency and the bear market. In Part Two we will delve into this in further detail.

]]>https://blog.buying.com/u-s-securities-and-exchange-commission-releases-ico-guide-is-it-a-little-too-late-part-one-of-two/feed/0Buying.com Hopes to Create an All-In-One App-Based Blockchain Solutionhttps://blog.buying.com/buying-com-hopes-to-create-an-all-in-one-app-based-blockchain-solution/
https://blog.buying.com/buying-com-hopes-to-create-an-all-in-one-app-based-blockchain-solution/#respondThu, 14 Feb 2019 10:59:59 +0000https://blog.buying.com/?p=313The new decentralized e-commerce platform Buying.com has just announced the launch of its minimum viable product (MVP) on Android and iOS of its forthcoming free mobile application the ‘Direct Product App’ (or DPA). DPA acts as a central hub to deliver benefits to customers such as consumers and manufacturers and, according to official company statements:…

]]>The new decentralized e-commerce platform Buying.com has just announced the launch of its minimum viable product (MVP) on Android and iOS of its forthcoming free mobile application the ‘Direct Product App’ (or DPA).

DPA acts as a central hub to deliver benefits to customers such as consumers and manufacturers and, according to official company statements: core aspects of the DPA’s forthcoming “proprietary technology” are exemplified in the recently released MVQ.

Tips for purchases

Key features incorporated into DPA include ‘tipping’, a mechanism where an entire community of purchasers are rewarded based on the accomplishments of its top contributors. And the ability to micromanage the inventory limits of its participants with the aim of driving “demand and consumer response”.

Additional features incorporated include ‘incentive-based social sharing’, which aims to gain Buying.com exposure whilst simultaneously ensuring participation of sharers with token-based compensation.

In doing this, Buying.com undoubtedly aims to gain a healthy market share of their own in the increasingly lucrative e-commerce sector.

E-commerce without middlemen

Buying.com promises to deliver a decentralized peer-to-peer marketplace and logistics system using a number of proven solutions into their own unique attempt at superseding the status quo of dominant market leaders in a wide range of e-commerce related areas, such as Amazon.

At its core, it is a delivery network which uses distributed ledger technology to connect consumers and independent retailers directly with product manufacturers. These parties have enabled access to the lowest prices at a wholesale level by pooling their respective resources to achieve ‘minimum order quantities’ (MOQ).

Hoping to become a pioneer in the blockchain disruption of e-commerce, Buying.com is (according to its website) “for the first time in history” giving “each individual… the buying power of millions in the palm of their hands!” by which the company is primarily referring to, most likely, the mobile app.

How It Works?

Buying.com incorporates an arsenal of core functions to accomplish their goals. ‘Microdistribution’ connects independent storage providers directly with retailers, using the proprietary mobile app as a means of recording and monitoring real-time logistics data. It also contains “integrated Backoffice e-commerce processing technology: like Salesforce.”.

The purported aim is to optimize costs for drop-shipping and to provide transparency by way of immutable encrypted blockchain storage from dispatch through to delivery stage. Those wishing to participate can do so via coin staking (using a consensus mechanism the company describes as both ‘Proof of Delivery’ and ‘Federated Byzantine Agreement’).

Segueing from the subject of drop-shipping, the primary partnerships of the company count blue-chip international giants like Sony, HP, Ralph Lauren and Nescafe. Buying.com likens itself frequently (or touts its features in comparison) to different companies such as Costco, Alibaba, and Walmart – influences it appears to wear on its sleeve.

Key ‘middle-ware’ software and protocol used in the DPA and Buying.com infrastructure include Proxeus, a data storage DApp which integrates “blockchain workflows in parallel with existing systems’.

The Buying.com MVP is available now for iOS and Android devices whilst the token sale commenced in October 2018 and the cryptocurrency remains available for purchase and investment. Furthermore, Buying.com is currently in pre-ICO stage (hence the discount), and the full public fundraising round is scheduled to run between the first of December 2018 through to the final day of January 2019.

]]>https://blog.buying.com/buying-com-hopes-to-create-an-all-in-one-app-based-blockchain-solution/feed/0E-Commerce on Demand: Crypto-Based Site with 50,000 Products Offers Delivery in Two Hourshttps://blog.buying.com/e-commerce-on-demand-crypto-based-site-with-50000-products-offers-delivery-in-two-hours/
https://blog.buying.com/e-commerce-on-demand-crypto-based-site-with-50000-products-offers-delivery-in-two-hours/#respondSun, 10 Feb 2019 17:29:42 +0000https://blog.buying.com/?p=309A decentralized platform offering “e-commerce on demand” is launching, and says it has the ambition of enabling shoppers to have online orders delivered in less than two hours – with food shopping arriving at their door in 30 minutes. Buying.com says its service will initially be available across six zip codes in New Jersey –…

]]>A decentralized platform offering “e-commerce on demand” is launching, and says it has the ambition of enabling shoppers to have online orders delivered in less than two hours – with food shopping arriving at their door in 30 minutes.

Buying.com says its service will initially be available across six zip codes in New Jersey – providing customers with a choice of more than 50,000 items. A center in the town of Mahwah is going to monitor the platform’s progress, and the startup has bold ambitions to roll out across the state and nationwide in the months that follow.

Customers can make their orders through the Buying.com website, and the company says that apps for Android and iOS are in the process of being approved by app stores. Two other apps have also been completely developed for drivers, enabling them to fulfill orders quickly and with precision.

Buying.com says the launch of e-commerce on demand comes nine months ahead of schedule, and it describes the service as the company’s “holy grail.” Over time, it aspires to become a household name, a crypto alternative to the online behemoths offering same-day deliveries.

Benefiting businesses

Buying.com says it wants to enable businesses at all stages of the e-commerce supply chain – retailers, distributors and suppliers among them – to pool their orders together so they can satisfy minimum order quantities and enjoy greater discounts on a product’s cost price. Not only does this help keep profit margins healthy, but it also enables businesses to offer compelling discounts to shoppers – better insulating them against online giants.

From the consumer’s perspective, Buying.com hopes that its app will enable the public to access items “from a much wider range of suppliers than is currently available in the centralized e-commerce market” – and access better bargains than they can now.

New technology

The company is hoping to “develop the world’s first vertically integrated blockchain platform,” and wants to drive engagement from shoppers by offering a limited number of “high-quality discounts and promotions” on a daily basis. These deals are also going to be targeted towards users based on their interests and previous purchases – and will be time limited to help boost sales from consumers eager to snap up a bargain.

Through its platform, “social sharing” will be incentivized – meaning the number of deals made available on social networks will increase as Buying.com gains exposure.

Buying.com added: “We will ultimately level the playing field for existing e-commerce stores, allowing them to compete with the likes of Amazon, Walmart and other major retailers. The app serves both as a business-to-business and business-to-consumer platform, harnessing the power of the masses to offer direct product pricing on millions of goods.”

Localizing shopping again

Localization is a big emphasis for Buying.com – and the platform says that consumers will be more willing to spend their hard-earned cash with small businesses in their area if they can offer the same pricing and convenience as online behemoths.

To enable hyperlocal deliveries to take place within two hours, the company is doing away with the notion of expensive centralized warehouses which stymy the flow of products and increase costs. This would be achieved by paying the owners of empty spaces such as garages and storefronts to become “distribution nodes” – creating a dependable network where small businesses can store their stock and drop it off to shoppers quickly.

The platform also hopes to tackle some of the other issues which have been blighting the industry – such as the chargebacks which cost retailers billions. Its Prime-Protect technology gives merchants access to an escrow service, where funds are released when a customer receives their item and is happy with their purchase.